Economics Formative: Globalization and Interdependence

F6: Create a Foundation for Your Lesson Plan 1 . Second, you must choose or create an essential question in which you will anchor your lesson plan. Choose from the following list by copying and pasting the essential question. How does the world economy impact an individual country’s economy? How can free trade benefit an economy? Why would a nation sign or refuse to sign a free-trade agreement? Answer: I will choose “How does the world economy impact an individual country’s economy?” 2. Next, you must choose a specific trade agreement, economic alliance, trade barrier, or world economic event to be the content focus of your answer to the essential question. You need to justify the relationship between your topic and the essential question. Please identify and explain your choice in the box provided. Below is a list of possible choices but you may choose something not on the list. OPEC European Union World Trade Organization Answer: I choose the European Union, the impact free trade agreements and relations on he global economy. 3. Lastly, you must make a list of information you need to research and materials you must have to create your lesson plan. You will research this list in your next formative. Answer: F6: Research Content and Materials Appropriate for Lesson Plan First, you must complete research appropriate to understand your topic of choice and its relationship to the essential question. Please make sure you cite all of your sources in MLA format in the bibliography box provided at the end of this formative. 1 What year was your topic created and for what purpose? 2017-Assess the impact of the European Union on regional and national economies, and trade relations with the U.S at a time, when the country has increased tariffs. 2 What are the major components of your choice?-The reasons for and against regional integration, protectionism versus free trade and the goals of integration (Holden 383). 3 Who are the major players involved? The European Union, Germany and the U.S. 4 What have been the major positive effects? Reduction trade barriers, the growth of the European single market and increased competition (Cooper 435). 5 What have been the major negative effects? German growing dominance, countries with weak exports remain uncompetitive, sometimes the EU central bank influences the monetary policies of member countries even when some lose out. 6 What additional information did you identify as necessary in your previous formative? How trade in the EU bloc affects the countries, the effectiveness of the bilateral agreements between the U.S. and the EU. Next, you must find the materials necessary to complete your lesson plan. 1 Do you need any articles? Explain yes or no. Answer: Yes, they explain the t...